Colombia is not a country that figures high on the radar screen of most global firms when it comes to the asset management business. The country’s pension funds, with $66bn in assets under management, are tiny compared to the $311bn in the regional powerhouse that is Brazil.

But small can be beautiful. Just ask BlackRock. The world’s biggest money manager by assets is setting up shop in Colombia following the unexpected – but significant – success of a local exchange traded fund (ETF) it launched last year. Read more